Feds Real Monetary Objective

Charles Hugh-Smith over at “Of Two Minds” succinctly stated what the Feds real objective is with the following statement: “One explicit goal in the Fed's “Zero-interest Rate Policy” (ZIRP) is to drive financial capital into risk assets such as stocks.  As a matter of fact, that is the Fed’s first-order of business, creating an illusion of prosperity via an elevated stock market and the resultant "wealth effect" for the 10% who own enough stocks to matter.  Indirect manipulation is hidden from public view lest the rigging of the market taint the perception that a rising market is "proof" that Federal Reserve and Administration policies are "succeeding."  Indirect manipulation is achieved via Federal Reserve quantitative easing operations, unlimited liquidity, and lines of credit to fund bank speculations and masked buying of market futures.”